A plan to give the British government power to override watchogs would raise “serious concerns” about the ability of regulators to oversee the City as a global financial center, Bank of England Deputy Governor Jon Cunliffe said on Wednesday. While …
Reforming European Union insurance rules to release billions of pounds of capital is a key part of the UK government’s program to boost the economy. The market turmoil unleashed by the mini-budget may make such ambitions harder to deliver. The …
Britain’s new Prime Minister Liz Truss promised to “unshackle” the City of London to fuel growth, but crashing the bond market over tax cuts will take the shine off her “Big Bang” plan for financial services. Markets took fright last …
The Bank of England’s new objective of helping the financial sector remain globally competitive should not encourage risky bets on regulatory standards to win business, BoE executive director Victoria Saporta said on Tuesday. Britain wants a “Big Bang 2.0” – …
Kwasi Kwarteng, the UK’s new chancellor of the exchequer, said the government will pursue sweeping financial reforms to unleash growth and competitiveness at a meeting Wednesday with industry leaders. The aim is to unleash a “Big Bang 2,” Kwarteng said, …
After an international career in finance, a rapid political rise and high profile as chancellor of the exchequer during the pandemic, Rishi Sunak must have expected the full-throated backing of the financial sector when he made a bid to lead …
Liz Truss, the front-runner to become Britain’s next prime minister, wants to examine the roles of the country’s three financial regulators as part of a review, a source close to her leadership campaign said on Thursday. Provided she wins the …
Weakening the independence of regulators would undermine reforms to bolster Britain’s finance industry, the head of the Bank of England said on Thursday, in a rebuff to proposals from the leading candidate to be the country’s next prime minister. The …
Britain’s government proposed a far-reaching financial services law last month to exploit “freedoms” to write its own capital market rules since leaving the European Union. Approval of what is the biggest markets reform in two decades is expected by May …
Insurers would potentially be able to use billions of pounds of expected gains from a relaxation of capital rules for share buybacks and to pay dividends, under plans by both candidates to succeed Boris Johnson as UK prime minister. Foreign …
